Borrowing Works Best when It Flows Both Ways

The other day while reading the Get Rich Slowly blog, a reader’s comment struck me as something I needed to expand on. I can’t seem to find the comment again, but to sum it up: a reader was tired of hearing frugal bloggers talk about borrowing others’ belongings without ever mentioning that they should lend people things in return.

As a frugal blogger myself who certainly stands behind the advice of borrowing, I wanted to make certain that it is clear that when I mention this as a great money-saving tool, I mean for it to be reciprocal. People need to both borrow and lend belongings in order to help everyone save money. It may not be borrowing and lending from the same person each time, as they may not be in need of anything or vice versa. However, reciprocity and gratitude are integral to building solid relationships.

This give and take relationship is inferred in the articles I write where I suggest borrowing from others, but hasn’t necessarily been explicitly stated. While I do not pretend to be the perfect illustration of this, I do try hard to show both gratitude, as well as bless others as we have been blessed.

To show this commenter, and others, that we both borrow and lend, I’ve included examples from our own lives in the past few years:

Lending a Tent: Most people go camping once every few years. It doesn’t make sense for them to sink several hundred dollars into a tent only to use it three times in the next decade. I was fortunate to snag an Eddie Bauer, 6-person tent for $23.96 off of eBay shipped in my early twenties (frugal decadence at its best!). Since then, we’ve lent it to a family member for a backyard birthday party, and are about to lend it to another family member for a camping trip next month. What a great feeling knowing that we saved them from having to purchase something they only need every few years.

Lending a Juicer: One of the first appliances I purchased for myself in my early twenties was a juicer. I was super-stoked, as I figured I would be juicing everyday (lesson learned!). Six years later when my friend started talking about looking into purchasing a juicer, I immediately brought up the fact that she could borrow mine to see if she would even use one. It just made sense! Since I hardly used it to begin with, the invitation to borrow it is an open-ended one and we haven’t missed it yet.

Lending House Supplies: Recently we helped out a foreign exchange student from the Ukraine. We met Vlad through my aunt in D.C., which is where he was staying before moving to Houston for an internship set-up through the State Department. After picking him up from the airport and helping him get to his destination (of course we introduced him to some tasty Texas barbecue first), we learned that he didn’t have a place to stay yet. Several days later, he found an apartment, but it was unfurnished. Since he is only here for three months, it just did not make sense for him to purchase an apartment full of things to use and then have to sell or donate when he leaves. So Paul and I gave him a spare bed/mattress, basic kitchen utensils (frying pan, an oven-proof dish, spatula, silverware, a few dishes, a few cups), our old television, a pillow, set of sheets, and two towels.

Borrowed a Power Washer: Paul and I noticed some algae growing on the side of our house (perfect conditions for it in humid Houston summers). When I mentioned this to my friend, she immediately mentioned that she could get a power washer for her and me to borrow to take care of the problem. It was tremendously helpful!

Borrowed a Scientific Calculator: As I mentioned in last week’s Frugal Confessions Friday post, Paul’s brother is allowing Paul to borrow his scientific calculator for his Algebra class this semester. Paul will likely not take any other math or engineering-type classes again to complete his major, so it made great financial sense for us to borrow a $100+ specific calculator rather than to purchase one (and we were fortunate to be able to know someone close to ask!).

Borrowed Hedge Trimmers: Two years ago we had to dig up the dead hibiscus bushes in our front flower beds and plant some other bushes instead. They finally have grown enough where they were in need of a trim. Fortunately, Paul’s brother allowed him to borrow his electric trimmers and get the job done quickly. In the future we will probably need to purchase a pair of trimmers ourselves for an annual trim. But for now, it saved us money.

Free Flow of Books: I love to both lend and borrow great books among family and friends. By borrowing, I’ve been able to read books like Rich Dad, Poor Dad, Nigella Lawson cookbooks, Jurassic Park, and Anthony Bourdain books. Subsequently, we’ve lent Eat, Pray, Love, Total Money Makeover, The Da Vinci Code, etc. from our own library.

As you can see, by borrowing and lending material possessions there has been a lot of money saved over the years (and this is the short list). I love saving people money almost more than saving ourselves money. It makes me feel good to help others, and being able to lend and borrow belongings is a natural extension of this.